$225K & Park

NYC parking spot costs more than typical US home

Cost of Manhattan condo, $2.2 million. Cost to park your $40K Audi there? Priceless Ridiculous. It’s no news that living in the Big Apple’s core takes some serious funds, but news on what NYC parking spots are going for may have the more frugal of the upperclass trading in their rides for some walking kicks. In a recent article from CNNMoney.com, Manhattan real estate agent Tom Postilio stated there is a waiting list of seven or eight people hoping to pay $225,000 for one of five private parking spaces that has been approved in the basement of 246 West 17th Street, a 34-unit condo development scheduled for completion next January.

With the nation’s median home price at $223,700, that’s more than the average US house. And given the size to cost comparison, the cost per square foot comes out to roughly $1,500 for parking, compared to $1,281 for living. That’s right- at least on West 17th Street, it can now be more expensive to park than live. Time to walk it out!

Source: Yahoo! Finance